New Market Research Report: Refrigeration Appliances in Singapore

From: Fast Market Research, Inc.
Published: Wed Sep 17 2014

Refrigeration appliances volume sales continues to see positive performance in 2013, growing at almost 2% from the previous year. Many factors impacted the growth of refrigeration appliances in Singapore. First, the economic recovery allowed the sales volume to increase for mass major appliances such as fridge freezers, in addition to the efforts of retailers in launching aggressive marketing programmes such as 0% instalment payment plans in addition to 10-30% price discounts on some models in stores during the mid-year sales in Courts etc. Apart from the trade promotion by retailers, manufacturers also had an influence on the volume growth of refrigeration appliances in Singapore. Korean manufacturers such as Samsung Corp and LG Corp, especially, launched trade promotion programmes with premium gifts.

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Competitive Landscape

For fridge freezers, Korean manufacturers such as LG and Samsung still lead the market, due to the brand equity for both brands as well as product availability. Moreover, both companies also compete closely with each other in in terms of product features, colours and designs. Additionally, they both are from the same country with similar corporate structures in terms of business units and growth strategy.

Industry Prospects

Over the forecast period, refrigeration appliances is expected to increase by a volume CAGR of 2%. More properties are expected to change hands in the forecast period. Thus, it is likely that the volume growth of refrigeration appliances will not be adversely affected over the forecast period. Due to the attractive payment instalment schemes from electronics and appliance specialist retailers such as Courts, refrigeration appliances is likely to continue to post healthy volume growth, as consumers will be able to purchase big-ticket appliances even if there is an economic downturn over the forecast period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Refrigeration Appliances industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Refrigeration Appliances industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Refrigeration Appliances in Singapore market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth

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You may also be interested in these related reports:

- Refrigeration Appliances in Turkey
- Refrigeration Appliances in Romania
- Refrigeration Appliances in Italy
- Refrigeration Appliances in Malaysia
- Refrigeration Appliances in Japan

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